Trimble (NASDAQ:TRMB) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Trimble (NASDAQ:TRMB) from a strong-buy rating to a buy rating in a report published on Monday.

Other equities analysts have also issued reports about the stock. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price on the stock in a research report on Thursday, February 20th. Sanford C. Bernstein raised their target price on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. Piper Sandler restated an “overweight” rating and set a $84.00 target price on shares of Trimble in a research report on Wednesday, December 11th. Finally, Robert W. Baird boosted their target price on shares of Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $86.00.

Trimble Stock Performance

Trimble stock opened at $69.49 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. Trimble has a 1-year low of $48.65 and a 1-year high of $77.78. The firm has a market capitalization of $17.08 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 3.09 and a beta of 1.53. The company’s 50-day moving average is $73.12 and its 200 day moving average is $67.37.

Insider Buying and Selling

In other Trimble news, VP Christopher F. Keating sold 5,709 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total value of $411,048.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jennifer Allison sold 3,571 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the completion of the transaction, the vice president now owns 3,157 shares in the company, valued at $235,985.75. The trade was a 53.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,421 shares of company stock worth $831,683. 0.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Trimble

Large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Trimble during the 4th quarter worth approximately $190,391,000. Boston Partners increased its stake in Trimble by 217.3% during the 4th quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company’s stock worth $239,802,000 after buying an additional 2,312,937 shares during the period. Select Equity Group L.P. increased its stake in Trimble by 22.4% during the 4th quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company’s stock worth $717,506,000 after buying an additional 1,857,517 shares during the period. Victory Capital Management Inc. increased its stake in Trimble by 41.4% during the 3rd quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock worth $337,934,000 after buying an additional 1,594,732 shares during the period. Finally, TimesSquare Capital Management LLC purchased a new stake in Trimble during the 4th quarter worth approximately $50,041,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Company Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.